| | | Fire River Gold Announces 3.7 opt (128 g/t) Gold Over 16.7 ft (5.1 m), Nixon Fork Gold Mine, Alaska | 
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FAU news May 5 2010
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- 3.7 opt (128 g/t) gold over 16.7 ft (5.1 m) in hole N07U048
- including 6.7 opt (231 g/t) gold over 1.6 ft (0.5 m)
- including 7.7 opt (264 g/t) gold over 4.9 ft (1.5 m)
- 2.2 opt (77 g/t) gold over 4.6 ft (1.4 m) in hole N07U047
- Results pending for 76 additional underground holes
- Results pending for 7 additional surface holes
- Geological re-assessment work 50% complete; resource update
Fall 2010
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May 5, 2010. Vancouver, Canada - Fire River Gold Corp. (TSX-V: FAU;
OTCQX: FVGCF; FSE: FWR) ("FAU" or the "Company") continues to
announce high grade assay results from the ongoing re-evaluation program
from its 100% owned Nixon Fork Gold Mine Project in Alaska. The Company
has received assay results from four holes with hole N07U048 returning a
bonanza grade intercept of 3.7 opt gold (128 g/t Au) over 16.7 ft (5.1
metres) including 6.7 opt (231 g/t) Au over 1.6 ft (0.5 metres) and
including 7.7 opt gold (264 g/t) Au over 4.9 ft (1.5 m) as part of the
ongoing geological re‐evaluation program for the Nixon Fork Gold Mine
Project in Alaska.
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In
the years 2007 to 2008, the former operator drilled 9400
metres in 110 holes, the results of which have never been
previously disclosed to the public. This release is the
second reporting of relogging and sampling of drill holes
completed in 2007. |
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An additional 83 drill holes from 2007 have assays pending or are
pending QAQC evaluation and will be the subject of future releases.
Because the 2007 and 2008 results were not formerly reported, a careful
review was initiated by Fire River of all quality control and quality
assurance procedures used by the former operator. Although original
check assays from the 2007 drill program were not documented, it is
clear, however, that certified standards were used. The re-sampling
program of the 2007 drill core is essentially a modified field duplicate
exercise of the original assay results.
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The re-sampling of the remaining half-cores, were fully analyzed except
in rare cases where quarter-cores were used. Sampling of core-duplicates
as compared to FAU's pulp-duplicates can produce a high degree of
variability in the results due to the "nugget effect" of gold
mineralization that occurs at Nixon Fork. This nugget effect was clearly
evident in the bonanza grades reported for the 2008 drilling.
Table 1 illustrates the most recent significant intercepts for
drill holes relogged and sampled during this program. These drill holes
were completed in the Crystal decline around the 3300 zone near the 220
ft level. Most of the drill program completed in 2007 was designed to
test projections of known mineralized zones, such as the 3300 zone with
modest step-outs down and up dip as well as along strike. Step-outs
ranged from 10 to more than 40 metres from known zones.
Table 2 illustrates a comparison of the 2010 reassay field
duplicate samples. In general, the results match up very well. |
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Table 1: List of 4 Drill holes
completed in 2007. |
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Table 2: A Comparison of the Original to Check Assays for the 2008
Drilling.
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Every effort has been made to replicate the previous sample intervals
except when a previous sample crossed a lithological or mineralized
boundary. In these cases the new 2010 samples were terminated at such
boundaries.
The differences in lengths of the intervals may account for some of the
variability in gold grades. In general, the assays are in conformity,
especially for a comparison of field duplicate samples in a high-grade,
coarse gold system.
Relogging and sampling of the historic core is of critical importance to
understanding the controls of gold mineralization as well as gaining
confidence in the high grades. The differences in grades shown are
typical of high grade, gold deposits with a significant nugget
distribution.
For additional details, please refer to FAU's April 20th, March 23rd and
March 31st press releases, which include the results from the first 33
holes, the geological re-assessment program, historic site production, a
description of the deposits, additional information on the QA/QC
measures and a description of our planned 2010 exploration drilling
program.
The Nixon Fork project produced significant bi-product copper and
silver. Until the closure of the mine in 2007, reported copper
production was 1.27 million lbs and silver production was 19,566 ounces
from 106,137 tonnes mined. Historic recovered grades are about 0.6% for
copper and 0.18 opt for silver.
The project is being managed by Richard Goodwin, P.Eng, VP Mining for
Fire River Gold and is the Qualified Person for this news release.
About Fire River Gold Corp.
Fire River Gold Corp. is a near term production company with a superior
technical team focused on bringing it's flagship project: the Nixon Fork
Gold Mine, back into production within the next 12 months. The Nixon
Fork Gold Mine is a fully permitted and bonded gold mine with past
production values averaging 1.4 opt (42 gpt). Nixon Fork is located
within Alaska's Tintina Gold Belt, which hosts numerous world class
deposits. Fire River Gold is a member of the International Metals Group
(http://www.internationalmetalsgroup.com).
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On behalf of Board of Directors,
"Harry Barr"
Harry Barr
President & CEO
Disclaimer: This news release may contain certain "forward-looking statements". All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time with the British Columbia Securities Commission and available at www.sedar.com or filed with the Canadian National Stock Exchange. Any forward-looking statements are not guarantees of the Company's future performance and are subject to risks and uncertainties that could cause actual results, developments, and business decisions to differ materially from those contemplated by any forward-looking statements. Except as required by law, the Company undertakes no obligation to update any forward-looking statements.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not Pink OTC Markets Inc. are solely responsible for the accuracy of such news releases.
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